Wednesday, December 12, 2012

The Fiscal Cliff, and More

The opening two sentences of this article in Yahoo's The Week pretty much sum up my view of the trouble the U.S. is in with regard to financing government:
Voters overwhelmingly want Washington to solve the country's budget problems. But they reject nearly every meaningful proposition to do so.
We can solve our government financing problems by taxing more or spending less, neither of which is palatable to the American electorate.

We borrow nearly half of every dollar the government spends on us. How long do you suppose that can continue? As we wrote on Saturday, Americans want more government than they are willing to pay for.